Explain the term Land Contracts?

Q: Who should authorize disposal of fixed assets?

A: Disposal of Fixed Asset: Disposal of fixed asset is a process of selling off the asset whose…

Q: What are land improvements?

A:

Q: Give an Examples of Leasehold Estates?

A: The question is based on the concept of lease, which is consider as special type of time bond…

Q: Need the answer of Land and explanation

A: The value of land can be found easily as we are provided with the amount of total assets and the…

Q: What is a land contract?

A: Land contract: A land contract is a course of action between a consumer and a dealer that applies to…

Q: Which of the following assets should be a. land.

A: Amortization is an accounting practice that lowers the book value of an intangible asset over a…

Q: Example or what are the transactions that will increase "land"?

A: The balance sheet represents the financial position of the business with its assets and liabilities.…

Q: How can we determine the Acquisition of Fixed Assets?

A: Fixed Assets- Fixed Assets are those assets which are acquired for the purpose of: production or…

Q: What does General requirements for loan closing of land development?

A: The last step in financing or buying any land is known as the closing of a loan. The term settlement…

Q: Define the term an identical asset?

A: An identical asset is the group of similar assets which are individually not distinguishable and can…

Q: ation will such be a Property, plant, and lotes payable

A: Sr No. Particulars Type of Account Type of organisation 1 Property,  Plant & Equipment Fixed…

Q: What is an option contract? How is it used in the land acquisition? What should developers be…

A: A contract amongst a seller and buyer, under which the option buyer has the right to sell or…

Q: Distinguish between the cost of land and the cost of land improvements with example.

A: Land improvements means any type of alteration to the land to make it more usable. Land improvements…

Q: Which two models may an entity opt for when accounting for investment property?

A: Investment property is a type of properly held by personnel for the intention of earning returns…

Q: purchase of land is a financing activity

A: There are three main activities is determined under the statement of cash flows, cash from operating…

Q: How much is the gain or loss on sale of the land, if any?

A: G)                                                           Gain or loss on sale of land   A…

Q: be recorded as the cost of the land?

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: Which movable assets those are not considered as leasehold improvements?

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of…

Q: give the definition, recognition, measurement and derecognition of investment property

A: Speculation property are going to be property (tructure or part of a structure each) control (by the…

Q: What are some of the physical considerations that a developer should be concerned with when…

A: Purchasing real estate like land requires huge capital expenditure, so the investor always takes…

Q: What would be the gain or loss on sale of land in the transaction attached? Why?

A: Gain or loss from sale of asset is calculated when book value of the asset is different from the…

Q: Explain how the general classification criteria are applied to leases that involve land.

A: Financial Accounting Standards Board (FASB):  FASB is an independent 7-member board, of accounting…

Q: Define Realizable (settlement) value

A: Realizable settlement value in case of liabilities is considered to be equal to the settlement…

Q: What is the correct classification of Land and Building for lease? Where do assets valued at?

A: Introduction As per relevant standard lease can be of two types finance lease or operating lease,…

Q: What does Lender Requirements in Financing Land Development?

A: The question is based on the concept of lend development loan provided by financial institution.…

Q: Which are the Limitations on Property Rights?

A: Property rights are the rights given to the owner as per law to hold or own a property. A property…

Q: the property factor, leased property is generally valued at

A: A lease is an agreement to use an asset of another party for a fixed period of time in exchange for…

Q: How do land improvements differ from land?

A: Land improvement:   Improvements are made on a plot of land in order to make it more usable. These…

Q: Define cost of land.

A: Land improvements: They are the improvements that are made to a plot of land to make it more usable.…

Q: What is the Characterization of the Land Development Business?

A: Land development : Land development is method of  transformation or developing the land into a…

Q: Cost Go Into Your Land definition

A: Property, Plant, and Equipment:  Property, Plant, and Equipment refers to the fixed assets, having a…

Q: Why It’s important to distinguish between the cost of land and the cost of land improvement?

A: The cost of land and cost of land improvements are to distinguished and are to be recorded…

Q: Define and provide an example for  Tangible property

A: Tangible property refers to such property which can be physically touched or felt by a person. It…

Q: Explain Property Type Swap?

A: Answer: Swap alludes to exchange with another between the parties involved in one monetary…

Q: How does a seller financing differ from a land contract ?

A: In the real estate context, seller financing means the seller transfer the title to the buyer of the…

Q: Explain Land Acquisition and Development Costs?

A: Land acquisition: It is the process by which the government acquires private property for a public…

Q: Why should a real estate listing contract be in writing and what are the essential elements of a…

A: Real estate contracts refer to legal aggreement between different parties. It is enforceable by law…

Q: Which are the terms and condition on CONTRACT FOR FUTURE DEED?

A: Contract for future deed is an agreement which provides for the finance by the seller for the sale…

Q: How do you determine the basis of acquired property in a like-kind exchange?  Give an example

A: Exchange of like-kind business/investment real property - The gain or loss on exchange of kind" real…

Q: According to our authors, what are land improvements?

A: Land improvement- They are meant to enhance the useful life of  the land.

Q: Real properties are classified into two categories. What are they?

A: Real property is the land, all that's really connected directly to the land, along with all the…

Q: Explain Amortize Goodwill? Give an example?

A: Amortize Goodwill: Goodwill is an intangible asset amortization of goodwill means a reduction in the…

Q: What is different between land and land improvements?

A: The land is a fixed asset that does not depreciate just like other fixed assets.  Any improvement…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.